BTMA——Leader in rapeseed oil press machinery industry
Vancouver, March 25: On Thursday, the Canadian canola futures market on the Intercontinental Exchange (ICE) closed down because the Chicago Board of Trade (CBOT) soybean oil futures market fell sharply, dragging down the rapeseed market.
As of the close, May futures closed approximately C$14.60 lower to close at C$781.50/ton; July futures closed approximately C$11.30 lower to close at C$732.50/ton; and November futures closed approximately C$5.30 lower to close at C$781.50/ton. Receive 609.50 C$/ton.
The most active May contract trading range is from 778.20 C$ to 796.10 C$.
Speculative funds took profits and sold off their positions, causing rapeseed prices to fall. However, the market was sluggish that day.
The tight supply of old season rapeseed is still supportive to prices. The lower Canadian dollar exchange rate also restricts the downside of the broader market.
On Thursday, rapeseed futures volume was estimated at 18,585 lots, compared to 24,012 lots on Wednesday. Arbitrage trading was 9,236 lots.
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BTMA News on March 26
